[Link].

nz

IRD Number 082-357-718

Reference L1902757832
MR CHRIS GRAHAM THOMAS
Issued 03 June 2023
131 PUKETE ROAD
PUKETE
HAMILTON 3200

Income tax assessment issued under the Tax

Administration Act 1994

Income tax assessment You have a refund of

for year ended 31 March 2023 $147.95

We’ve completed your income tax assessment for the tax year 31 March 2023.

Thanks for paying your tax over the past year 31 March 2023. It turns out you paid $147.95
too much and we’d like to return it to you.

When you will get your refund

We’ll pay your refund into your bank account 12-3438-00035674-0000 within two working
days.

If you owe us money for something else, then some or all of your refund may be used
to pay this. We’ll send you another letter if this happens.

How your refund was calculated

Have a look at the 'Your assessment details' section of this letter to understand how we
worked out your refund for the 31 March 2023 tax year.

The 'Your income information' section shows the income you earned, how much tax should
have been paid, how much has been, and whether that means you have tax to pay, nothing to
pay or a refund to receive.

If our information about your income is wrong

You can change your income information in myIR:

1. Go to your income tax account.

2. Select Returns and Transactions.
3. Open the Returns tab.
4. Select View or amend return for 31 March 2023 and update your details.

If your income information in this letter is incomplete or wrong, you will need to update it. You
can find more information on the types of income and claimable expenses to include in your
assessment at [Link]/types-of-individual-income and
[Link]/types-of-individual-expenses.

Please make any updates before 7 February 2024. Any changes you make could change the

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outcome of your assessment.

If you do not have a myIR account, you can register for a myIR account today at
[Link]/myir otherwise, you can contact us to update your information. Go to
[Link]/contact-us to find the best way to get in touch.

Thank you for paying your tax

The money you pay goes towards hospitals, schools, justice and other services available to all
New Zealanders.

If you have any questions

For more information about your end-of-year tax, please go to [Link]/end-of-tax-year

Want to get in touch with us? Go to [Link]/contact-us to find the best option for you.

Your portfolio investment entity calculation

The income you earn from your investments in PIEs is taxed differently to other income you
earn, using a prescribed investor rate (PIR). If you do not use the correct PIR you can pay too
much or too little tax on your PIE income. Find out more at [Link]/PIR

We work out whether you have paid the right amount of tax on your PIE income based on the
PIR you should have used. Any tax you have underpaid or overpaid is included in your
assessment.

Here is your PIE income, the tax you paid, and the tax you should have paid for the year
ending 2023.

PIE Calculation

Total PIE income/loss $280.86

Total PIE deductions $29.49

Correct tax on PIE income $49.15

Difference - tax underpaid on PIE income (PIE debit) $19.66

You have not paid enough tax on your PIE income because you used a PIR that was too low.
The underpaid tax has been added to your assessment. The PIR you should have used all year
was 17.50%.

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Your assessment details
Income

Total gross income from salary, wages, benefits, $50,956.76

taxable pensions
TAXABLE INCOME $50,956.76

PIE debit $19.66

Tax on taxable income including PIE debit $8,326.46

Tax deductions

Total PAYE for salary, wages, benefits, taxable $9,152.14

pensions
ACC earners’ levy $677.73

Total tax from salary, wages, benefits, taxable $8,474.41

pensions
Total tax deductions $8,474.41
This is tax you've already paid

TAX CALCULATION RESULT – CREDIT $147.95

Your total refund $147.95

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Your income information
Below shows the income and tax deductions that were used to calculate your assessment.

Salary, wages, benefits, and taxable pension information

Employer or payer Gross Tax & ACC

income deducted

MINISTRY OF SOCIAL
DEVELOPMENT- BENEFITS
1 April 2022 to 30 June 2022 $4,536.76 $552.62
IAG NZ REPAIRHUB LIMITED
1 October 2022 to 31 March 2023 $26,039.00 $4,844.78
IAG NO. 2 LIMITED
1 May 2022 to 30 September 2022 $20,189.00 $3,731.78
CENTRAL INSULATION LIMITED
24 March 2023 to 31 March 2023 $192.00 $22.96

Total $50,956.76 $9,152.14

Portfolio investment entity (PIE) income or loss

Your correct PIR is 17.5%

PIE name PIR at year PIR changed PIE PIE tax

end income/loss credits

ASB KIWISAVER SCHEME 10.50% No

1 April 2022 to 31 March 2023 $280.86 $29.49

Total PIE income or loss $280.86 $29.49

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